Mineral Source Verification - yet another application of the Blockchain technology.
Mining companies are constantly working to determine the source of their minerals and to ensure a quality extraction process. Under the 2010 Dodd-Frank Act, mining companies based in the United States must source minerals in a responsible manner. Further, the minerals could not be used to enrich those involved in armed conflicts.
The European Union has adopted similar laws several years ago. Under their measures, companies based in the European Union must confirm the source of minerals such as gold, tungsten, tin, and titanium. These requirements work to mitigate the use of minerals to finance warfare.
The effects of these laws are still being determined – as in whether they are actually working to mitigate conflict and funding from the sale of such minerals. In terms of compliance though, companies are turning to one resource that may provide a great deal of help: Blockchain The technology may be able to ensure that companies are truly sustainably sourcing the minerals.
https://bitcoinexchangeguide.com/blockchain-apps-and-the-mineral-supply-chain-could-help-verify-origins-of-resources/
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